Ormat Technologies (NYSE:ORA) Stock Price Expected to Rise, Barclays Analyst Says

Ormat Technologies (NYSE:ORA - Free Report) had its price objective boosted by Barclays from $86.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the energy company's stock.

Several other equities analysts also recently commented on ORA. Wall Street Zen upgraded Ormat Technologies from a "sell" rating to a "hold" rating in a research report on Monday, April 7th. Robert W. Baird started coverage on Ormat Technologies in a research report on Thursday, March 13th. They issued a "neutral" rating and a $81.00 price objective for the company. Jefferies Financial Group lifted their price objective on Ormat Technologies from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Finally, Baird R W upgraded Ormat Technologies to a "hold" rating in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $84.71.

Ormat Technologies Price Performance

Shares of Ormat Technologies stock traded up $0.41 during midday trading on Thursday, hitting $88.55. 428,250 shares of the company were exchanged, compared to its average volume of 487,639. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a market cap of $5.37 billion, a P/E ratio of 42.98, a PEG ratio of 4.25 and a beta of 0.64. Ormat Technologies has a 52 week low of $61.58 and a 52 week high of $88.78. The firm has a 50 day simple moving average of $78.54 and a 200-day simple moving average of $72.00.

Ormat Technologies (NYSE:ORA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The energy company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.58 by $0.10. The business had revenue of $229.76 million during the quarter, compared to the consensus estimate of $228.33 million. Ormat Technologies had a return on equity of 5.35% and a net margin of 14.18%. Ormat Technologies's revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. Research analysts forecast that Ormat Technologies will post 1.94 earnings per share for the current year.

Ormat Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 21st were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. Ormat Technologies's dividend payout ratio (DPR) is currently 23.30%.

Insider Buying and Selling

In other news, Director Dafna Sharir sold 1,601 shares of Ormat Technologies stock in a transaction on Friday, June 20th. The stock was sold at an average price of $85.63, for a total value of $137,093.63. Following the completion of the sale, the director directly owned 3,238 shares of the company's stock, valued at approximately $277,269.94. This trade represents a 33.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michal Marom sold 895 shares of Ormat Technologies stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $73.47, for a total value of $65,755.65. Following the completion of the sale, the director directly owned 3,080 shares of the company's stock, valued at $226,287.60. This trade represents a 22.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,329 shares of company stock worth $423,443. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ormat Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ORA. Voya Investment Management LLC grew its stake in shares of Ormat Technologies by 19.2% during the first quarter. Voya Investment Management LLC now owns 96,604 shares of the energy company's stock worth $6,837,000 after purchasing an additional 15,532 shares during the period. Strs Ohio acquired a new stake in shares of Ormat Technologies during the first quarter worth $304,000. Intech Investment Management LLC grew its stake in shares of Ormat Technologies by 10.5% during the first quarter. Intech Investment Management LLC now owns 24,592 shares of the energy company's stock worth $1,740,000 after purchasing an additional 2,329 shares during the period. Bayforest Capital Ltd grew its stake in shares of Ormat Technologies by 2,293.3% during the first quarter. Bayforest Capital Ltd now owns 6,773 shares of the energy company's stock worth $479,000 after purchasing an additional 6,490 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Ormat Technologies by 22.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 234,467 shares of the energy company's stock worth $16,593,000 after purchasing an additional 43,483 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

About Ormat Technologies

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.